Post Brexit

Not currently but yes, after Dec 31st. a single person will need to show annual  resources of around €30,000 pa. and a couple around €38,000.

That can be by income or possibly by savings (can depend on exactly where a residency application is being made and even the individual processing it!) and will be necessary for each of the 3 non lucrative visas you will need to tot up to the 5 years required for permanent residency. 

For the first 1 year visa then you need to show €30k, for the subsequent 2x 2 year visas you will need to show the same €30k pa income or €60k savings for each. 

That would be the logical progression but until it happens, and considering regional variations and interpretations, nobody can say how it might actually play out in practice.

Unfortunately unless would be emigrees  can make their move before Dec 31st. dreams of retiring to Spain on little more than a couple of UK state pensions and a few quid in the bank, as is possible today, will be over forever. 

I fully concur with movingon...

However, you have 4 months or so to move here and get residency on the favourable EU terms of earnings of €900 per month or €9000 of savings. You could rent an apartment for a year to achieve residency and any other legalities that is required. 

In any event, either before or after 1st January 2021 you will need healthcare cover either by private healthcare cover or by the S1 form.

Steve 

Dear Moving On. Thank you so much for this. I‘ve just done the conversion to euros and I’m £3k short. May my savings will compensate or maybe they won’t.  My Spanish Dream may well be in ruins.  Kind regards. Ann

Hi Steve. Thank you for your prompt reply. In order to be resident by the end of the year do you think it would be possible to rent a small flat for a few months whilst continuing the purchase of my Oliva villa which is dependent on the sale of my house here.  It’s poised to go on the market and assuming it sells smoothly I could be ready to move in January - I daren’t hope for December!  What do you think?  Kind regards, Ann. 

Ann21 beware of Capital Gains Tax on your uk house sale

It’s my only house - I should be ok.  Unless you mean if I were to rent in Oliva ..  would that make my house subject to CG?  

No I dont think so but it might pay you to just check and make sure

Ok thanks. Will look into it. 

Hi,

To gain residency before 31st December, yes you could rent an apartment but you also need to prove that you live here full time which in your case may prove difficult. 

The way the housing market is at the moment in the UK I doubt very much that you will complete your house sale and get fully settled over here in Spain before 31st December 2020 and, i imagine there will be CGT to pay somewhere along the line.

It's already been mentioned about income requirements after 1st January 2021 and also full healthcare cover for you and any dependants. 

Loads to think about but it's still possible one way or another if you are determined ☺

Steve